BACAP PRICE STRUCTURE 21 EMA TREND21dma-STRUCTURE
Overview
The 21dma-STRUCTURE indicator is a sophisticated overlay indicator that visualizes price action relative to a triple 21-period exponential moving average structure. Originally developed by BalarezoCapital and enhanced by PrimeTrading, this indicator provides clear visual cues for trend direction and momentum through dynamic bar coloring and EMA structure analysis.
Key Features
Triple EMA Structure
- 21 EMA High: Tracks the exponential moving average of high prices
- 21 EMA Close: Tracks the exponential moving average of closing prices
- 21 EMA Low: Tracks the exponential moving average of low prices
- Dynamic Cloud: Gray fill between high and low EMAs for visual structure reference
Smart Bar Coloring System
- Blue Bars: Price closes above all three EMAs (strong bullish momentum)
- Pink Bars: Daily high falls below the lowest EMA (strong bearish signal)
- Gray Bars: Neutral conditions or transitional phases
- Color Memory: Maintains previous color until new condition is met
Dynamic Center Line
- Trend-Following Color: Green when all EMAs are rising, red when all are falling
- Color Persistence: Maintains trend color during sideways movement
- Visual Clarity: Thicker center line for easy trend identification
Customizable Visual Elements
- Adjustable line thickness for all EMA plots
- Customizable colors for bullish and bearish conditions
- Configurable trend colors for uptrend and downtrend phases
- Optional bar color changes with toggle control
How to Use
Trend Identification
- Rising Green Center Line: All EMAs trending upward (bullish structure)
- Falling Red Center Line: All EMAs trending downward (bearish structure)
- Flat Center Line: Maintains last trend color during consolidation
Momentum Analysis
- Blue Bars: Strong bullish momentum with price above entire EMA structure
- Pink Bars: Strong bearish momentum with high below lowest EMA
- Gray Bars: Neutral or transitional momentum phases
Entry and Exit Signals
- Bullish Setup: Look for blue bars during green center line periods
- Bearish Setup: Look for pink bars during red center line periods
- Exit Consideration: Watch for color changes as potential momentum shifts
Structure Trading
- Support/Resistance: Use EMA cloud as dynamic support and resistance zones
- Breakout Confirmation: Bar color changes can confirm structure breakouts
- Trend Continuation: Color persistence suggests ongoing momentum
Settings
Visual Customization
- Change Bar Color: Toggle to enable/disable bar coloring
- Line Size: Adjust thickness of EMA lines (default: 3)
- Bullish Candle Color: Customize blue bar color
- Bearish Candle Color: Customize pink bar color
Trend Colors
- Uptrend Color: Color for rising EMA center line (default: green)
- Downtrend Color: Color for falling EMA center line (default: red)
- Cloud Color: Fill color between high and low EMAs (default: gray)
Advanced Features
Modified Bar Logic
Unlike traditional EMA systems, this indicator uses refined conditions:
- Bullish signals require close above ALL three EMAs
- Bearish signals require high below the LOWEST EMA
- Enhanced precision reduces false signals compared to single EMA systems
Trend Memory System
- Intelligent color persistence during sideways movement
- Reduces noise from minor EMA fluctuations
- Maintains trend context during consolidation periods
Performance Optimization
- Efficient calculation methods for real-time performance
- Clean visual design that doesn't clutter charts
- Compatible with all timeframes and instruments
Best Practices
Multi-Timeframe Analysis
- Use higher timeframes to identify overall trend direction
- Apply on multiple timeframes for confluence
- Combine with weekly/monthly charts for position trading
Risk Management
- Use bar color changes as early warning signals
- Consider position sizing based on EMA structure strength
- Set stops relative to EMA support/resistance levels
Combination Strategies
- Pair with volume indicators for confirmation
- Use alongside RSI or MACD for momentum confirmation
- Combine with key support/resistance levels
Market Context
- More effective in trending markets than choppy conditions
- Consider overall market environment and sector strength
- Adjust expectations during high volatility periods
Technical Specifications
- Based on 21-period exponential moving averages
- Uses Pine Script v6 for optimal performance
- Overlay indicator that works with any chart type
- Maximum 500 lines for clean performance
Ideal Applications
- Swing trading on daily charts
- Position trading on weekly charts
- Intraday momentum trading (adjust timeframe accordingly)
- Trend following strategies
- Structure-based trading approaches
Disclaimer
This indicator is for educational and informational purposes only. It should not be used as the sole basis for trading decisions. Always combine with other forms of analysis, proper risk management, and consider your individual trading plan and risk tolerance.
Compatible with Pine Script v6 | Works on all timeframes | Optimized for trending markets
Pesquisar nos scripts por "Cycle"
(Mustang Algo) Stochastic RSI + Triple EMAStochastic RSI + Triple EMA (StochTEMA)
Overview
The Stochastic RSI + Triple EMA indicator combines the Stochastic RSI oscillator with a Triple Exponential Moving Average (TEMA) overlay to generate clear buy and sell signals on the price chart. By measuring RSI overbought/oversold conditions and confirming trend direction with TEMA, this tool helps traders identify high-probability entries and exits while filtering out noise in choppy markets.
Key Features
Stochastic RSI Calculation
Computes a standard RSI over a user-defined period (default 50).
Applies a Stochastic oscillator to the RSI values over a second user-defined period (default 50).
Smooths the %K line by taking an SMA over a third input (default 3), and %D is an SMA of %K over another input (default 3).
Defines oversold when both %K and %D are below 20, and overbought when both are above 80.
Triple EMA (TEMA)
Calculates three successive EMAs on the closing price with the same length (default 9).
Combines them using TEMA = 3×(EMA1 – EMA2) + EMA3, producing a fast-reacting trend line.
Bullish trend is identified when price > TEMA and TEMA is rising; bearish trend when price < TEMA and TEMA is falling; neutral/flat when TEMA change is minimal.
Signal Logic
Strong Buy: Previous bar’s Stoch RSI was oversold (both %K and %D < 20), %K crosses above %D, and TEMA is in a bullish trend.
Medium Buy: %K crosses above %D (without requiring oversold), TEMA is bullish, and previous %K < 50.
Weak Buy: Previous bar’s %K and %D were oversold, %K crosses above %D, TEMA is flat or bullish (not bearish).
Strong Sell: Previous bar’s Stoch RSI was overbought (both %K and %D > 80), %K crosses below %D, and TEMA is bearish.
Medium Sell: %K crosses below %D (without requiring overbought), TEMA is bearish, and previous %K > 50.
Weak Sell: Previous bar’s %K and %D were overbought, %K crosses below %D, TEMA is flat or bearish (not bullish).
Visual Elements on Chart
TEMA Line: Plotted in cyan (#00BCD4) with a medium-thick line for clear trend visualization.
Buy/Sell Markers:
BUY STRONG: Lime label below the candle
BUY MEDIUM: Green triangle below the candle
BUY WEAK: Semi-transparent green circle below the candle
SELL STRONG: Red label above the candle
SELL MEDIUM: Orange triangle above the candle
SELL WEAK: Semi-transparent orange circle above the candle
Candle & Background Coloring: When a strong buy or sell signal occurs, the candle body is tinted (semi-transparent lime/red) and the chart background briefly flashes light green (buy) or light red (sell).
Dynamic Support/Resistance:
On a strong buy signal, a green dot is plotted under that bar’s low as a temporary support marker.
On a strong sell signal, a red dot is plotted above that bar’s high as a temporary resistance marker.
Alerts
Strong Buy Alert: Triggered when Stoch RSI is oversold, %K crosses above %D, and TEMA is bullish.
Strong Sell Alert: Triggered when Stoch RSI is overbought, %K crosses below %D, and TEMA is bearish.
General Buy Alert: Triggered on any bullish crossover (%K > %D) when TEMA is not bearish.
General Sell Alert: Triggered on any bearish crossover (%K < %D) when TEMA is not bullish.
Inputs
Stochastic RSI Settings (group “Stochastic RSI”):
K (smoothK): Period length for smoothing the %K line (default 3, minimum 1)
D (smoothD): Period length for smoothing the %D line (default 3, minimum 1)
RSI Length (lengthRSI): Number of bars used for the RSI calculation (default 50, minimum 1)
Stochastic Length (lengthStoch): Number of bars for the Stochastic oscillator applied to RSI (default 50, minimum 1)
RSI Source (src): Price source for the RSI (default = close)
TEMA Settings (group “Triple EMA”):
TEMA Length (lengthTEMA): Number of bars used for each of the three EMAs (default 9, minimum 1)
How to Use
Add the Script
Copy and paste the indicator code into TradingView’s Pine Editor (version 6).
Save the script and add it to your chart as “Stochastic RSI + Triple EMA (StochTEMA).”
Adjust Inputs
Choose shorter lengths for lower timeframes (e.g., intraday scalping) and longer lengths for higher timeframes (e.g., swing trading).
Fine-tune the Stochastic RSI parameters (K, D, RSI Length, Stochastic Length) to suit the volatility of the instrument.
Modify TEMA Length if you prefer a faster or slower moving average response.
Interpret Signals
Primary Entries/Exits: Focus on “BUY STRONG” and “SELL STRONG” signals, as they require both oversold/overbought conditions and a confirming TEMA trend.
Confirmation Signals: Use “BUY MEDIUM”/“BUY WEAK” to confirm or add to an existing position when the market is trending. Similarly, “SELL MEDIUM”/“SELL WEAK” can be used to scale out or confirm bearish momentum.
Support/Resistance Dots: These help identify recent swing lows (green dots) and swing highs (red dots) that were tagged by strong signals—useful to place stop-loss or profit-target orders.
Set Alerts
Open the Alerts menu (bell icon) in TradingView, choose this script, and select the desired alert condition (e.g., “BUY Signal Strong”).
Configure notifications (popup, email, webhook) according to your trading workflow.
Notes & Best Practices
Filtering False Signals: By combining Stoch RSI crossovers with TEMA trend confirmation, most false breakouts during choppy price action are filtered out.
Timeframe Selection: This indicator works on all timeframes, but shorter timeframes may generate frequent signals—consider higher-timeframe confirmation when trading lower timeframes.
Risk Management: Always use proper position sizing and stop-loss placement. An “oversold” or “overbought” reading can remain extended for some time in strong trends.
Backtesting/Optimization: Before live trading, backtest different parameter combinations on historical data to find the optimal balance between sensitivity and reliability for your chosen instrument.
No Guarantee of Profits: As with any technical indicator, past performance does not guarantee future results. Use in conjunction with other forms of analysis (volume, price patterns, fundamentals).
Author: Your Name or Username
Version: 1.0 (Pine Script v6)
Published: June 2025
Feel free to customize input values and visual preferences. If you find bugs or have suggestions for improvements, open an issue or leave a comment below. Trade responsibly!
New York Midnight Day SeparatorThis Pine Script indicator draws vertical separator lines on the chart at midnight in the New York timezone (Eastern Time). The lines mark the start of each new trading day from Monday to Friday, helping traders visually distinguish daily sessions based on New York market time. The separator lines are rendered as slightly transparent gray lines spanning the full price range of each midnight candle, providing a clean and unobtrusive visual aid for session tracking.
AWR R & LR Oscillator with plots & tableHello trading viewers !
I'm glad to share with you one of my favorite indicator. It's the aggregate of many things. It is partly based on an indicator designed by gentleman goat. Many thanks to him.
1. Oscillator and Correlation Calculations
Overview and Functionality: This part of the indicator computes up to 10 Pearson correlation coefficients between a chosen source (typically the close price, though this is user-configurable) and the bar index over various periods. Starting with an initial period defined by the startPeriod parameter and increasing by a set increment (periodIncrement), each correlation coefficient is calculated using the built-in ta.correlation function over successive ranges. These coefficients are stored in an array, and the indicator calculates their average (avgPR) to provide a complete view of the market trend strength.
Display Features: Each individual coefficient, as well as the overall average, is plotted on the chart using a specific color. Horizontal lines (both dashed and solid) are drawn at levels 0, ±0.8, and ±1, serving as visual thresholds. Additionally, conditional fills in red or blue highlight when values exceed these thresholds, helping the user quickly identify potential extreme conditions (such as overbought or oversold situations).
2. Visual Signals and Automated Alerts
Graphical Signal Enhancements: To reinforce the analysis, the indicator uses graphical elements like emojis and shape markers. For example:
If all 10 curves drop below -0.79, a 🌋 emoji appears at the bottom of the chart;
When curves 2 through 10 are below -0.79, a ⛰️ emoji is displayed below the bar, potentially serving as a buy signal accompanied by an alert condition;
Likewise, symmetrical conditions for correlations exceeding 0.79 produce corresponding emojis (🤿 and 🏖️) at the top or bottom of the chart.
Alerts and Notifications: Using these visual triggers, several alertcondition statements are defined within the script. This allows users to set up TradingView alerts and receive real-time notifications whenever the market reaches these predefined critical zones identified by the multi-period analysis.
3. Regression Channel Analysis
Principles and Calculations: In addition to the oscillator, the indicator implements an analysis of regression channels. For each of the 8 configurable channels, the user can set a range of periods (for example, min1 to max1, etc.). The function calc_regression_channel iterates through the defined period range to find the optimal period that maximizes a statistical measure derived from a regression parameter calculated by the function r(p). Once this optimal period is identified, the indicator computes two key points (A and B) which define the main regression line, and then creates a channel based on the calculated deviation (an RMSE multiplied by a user-defined factor).
The regression channels are not displayed on the chart but are used to plot shapes & fullfilled a table.
Blue shapes are plotted when 6th channel or 7th channel are lower than 3 deviations
Yellow shapes are plotted when 6th channel or 7th channel are higher than 3 deviations
4. Scores, Conditions, and the Summary Table
Scoring System: The indicator goes further by assigning scores across multiple analytical categories, such as:
1. BigPear Score
What It Represents: This score is based on a longer-term moving average of the Pearson correlation values (SMA 100 of the average of the 10 curves of correlation of Pearson). The BigPear category is designed to capture where this longer-term average falls within specific ranges.
Conditions: The script defines nine boolean conditions (labeled BigPear1up through BigPear9up for the “up” direction).
Here's the rules :
BigPear1up = (bigsma_avgPR <= 0.5 and bigsma_avgPR > 0.25)
BigPear2up = (bigsma_avgPR <= 0.25 and bigsma_avgPR > 0)
BigPear3up = (bigsma_avgPR <= 0 and bigsma_avgPR > -0.25)
BigPear4up = (bigsma_avgPR <= -0.25 and bigsma_avgPR > -0.5)
BigPear5up = (bigsma_avgPR <= -0.5 and bigsma_avgPR > -0.65)
BigPear6up = (bigsma_avgPR <= -0.65 and bigsma_avgPR > -0.7)
BigPear7up = (bigsma_avgPR <= -0.7 and bigsma_avgPR > -0.75)
BigPear8up = (bigsma_avgPR <= -0.75 and bigsma_avgPR > -0.8)
BigPear9up = (bigsma_avgPR <= -0.8)
Conditions: The script defines nine boolean conditions (labeled BigPear1down through BigPear9down for the “down” direction).
BigPear1down = (bigsma_avgPR >= -0.5 and bigsma_avgPR < -0.25)
BigPear2down = (bigsma_avgPR >= -0.25 and bigsma_avgPR < 0)
BigPear3down = (bigsma_avgPR >= 0 and bigsma_avgPR < 0.25)
BigPear4down = (bigsma_avgPR >= 0.25 and bigsma_avgPR < 0.5)
BigPear5down = (bigsma_avgPR >= 0.5 and bigsma_avgPR < 0.65)
BigPear6down = (bigsma_avgPR >= 0.65 and bigsma_avgPR < 0.7)
BigPear7down = (bigsma_avgPR >= 0.7 and bigsma_avgPR < 0.75)
BigPear8down = (bigsma_avgPR >= 0.75 and bigsma_avgPR < 0.8)
BigPear9down = (bigsma_avgPR >= 0.8)
Weighting:
If BigPear1up is true, 1 point is added; if BigPear2up is true, 2 points are added; and so on up to 9 points from BigPear9up.
Total Score:
The positive score (posScoreBigPear) is the sum of these weighted conditions.
Similarly, there is a negative score (negScoreBigPear) that is calculated using a mirrored set of conditions (named BigPear1down to BigPear9down), each contributing a negative weight (from -1 to -9).
In essence, the BigPear score tells you—in a weighted cumulative way—where the longer-term correlation average falls relative to predefined thresholds.
2. Pear Score
What It Represents: This category uses the immediate average of the Pearson correlations (avgPR) rather than a longer-term smoothed version. It reflects a more current picture of the market’s correlation behavior.
How It’s Calculated:
Conditions: There are nine conditions defined for the “up” scenario (named Pear1up through Pear9up), which partition the range of avgPR into intervals. For instance:
Pear1up = (avgPR > -0.2 and avgPR <= 0)
Pear2up = (avgPR > -0.4 and avgPR <= -0.2)
Pear3up = (avgPR > -0.5 and avgPR <= -0.4)
Pear4up = (avgPR > -0.6 and avgPR <= -0.5)
Pear5up = (avgPR > -0.65 and avgPR <= -0.6)
Pear6up = (avgPR > -0.7 and avgPR <= -0.65)
Pear7up = (avgPR > -0.75 and avgPR <= -0.7)
Pear8up = (avgPR > -0.8 and avgPR <= -0.75)
Pear9up = (avgPR > -1 and avgPR <= -0.8)
There are nine conditions defined for the “down” scenario (named Pear1down through Pear9down), which partition the range of avgPR into intervals. For instance:
Pear1down = (avgPR >= 0 and avgPR < 0.2)
Pear2down = (avgPR >= 0.2 and avgPR < 0.4)
Pear3down = (avgPR >= 0.4 and avgPR < 0.5)
Pear4down = (avgPR >= 0.5 and avgPR < 0.6)
Pear5down = (avgPR >= 0.6 and avgPR < 0.65)
Pear6down = (avgPR >= 0.65 and avgPR < 0.7)
Pear7down = (avgPR >= 0.7 and avgPR < 0.75)
Pear8down = (avgPR >= 0.75 and avgPR < 0.8)
Pear9down = (avgPR >= 0.8 and avgPR <= 1)
Weighting:
Each condition has an associated weight, such as 0.9 for Pear1up, 1.9 for Pear2up, and so on, up to 9 for Pear9up.
Sum up :
Pear1up = 0.9
Pear2up = 1.9
Pear3up = 2.9
Pear4up = 3.9
Pear5up = 4.99
Pear6up = 6
Pear7up = 7
Pear8up = 8
Pear9up = 9
Total Score:
The positive score (posScorePear) is the sum of these values for each condition that returns true.
A corresponding negative score (negScorePear) is calculated using conditions for when avgPR falls on the positive side, with similar weights in the negative direction.
This score quantifies the current correlation reading by translating its relative level into a numeric score through a weighted sum.
3. Trendpear Score
What It Represents: The Trendpear score is more dynamic as it compares the current avgPR with its short-term moving average (sma_avgPR / 14 periods ) and also considers its relationship with an even longer moving average (bigsma_avgPR / 100 periods). It is meant to capture the trend or momentum in the correlation behavior.
How It’s Calculated:
Conditions: Nine conditions (from Trendpear1up to Trendpear9up) are defined to check:
Whether avgPR is below, equal to, or above sma_avgPR by different margins;
Whether it is trending upward (i.e., it is higher than its previous value).
Here are the rules
Trendpear1up = (avgPR <= sma_avgPR -0.2) and (avgPR >= avgPR )
Trendpear2up = (avgPR > sma_avgPR -0.2) and (avgPR <= sma_avgPR -0.07) and (avgPR >= avgPR )
Trendpear3up = (avgPR > sma_avgPR -0.07) and (avgPR <= sma_avgPR -0.03) and (avgPR >= avgPR )
Trendpear4up = (avgPR > sma_avgPR -0.03) and (avgPR <= sma_avgPR -0.02) and (avgPR >= avgPR )
Trendpear5up = (avgPR > sma_avgPR -0.02) and (avgPR <= sma_avgPR -0.01) and (avgPR >= avgPR )
Trendpear6up = (avgPR > sma_avgPR -0.01) and (avgPR <= sma_avgPR -0.001) and (avgPR >= avgPR )
Trendpear7up = (avgPR >= sma_avgPR) and (avgPR >= avgPR ) and (avgPR <= bigsma_avgPR)
Trendpear8up = (avgPR >= sma_avgPR) and (avgPR >= avgPR ) and (avgPR >= bigsma_avgPR -0.03)
Trendpear9up = (avgPR >= sma_avgPR) and (avgPR >= avgPR ) and (avgPR >= bigsma_avgPR)
Weighting:
The weights here are not linear. For example, the lightest condition may add 0.1 point, whereas the most extreme condition (e.g., when avgPR is not only above the moving average but also reaches a high proportion relative to bigsma_avgPR) might add as much as 90 points.
Trendpear1up = 0.1
Trendpear2up = 0.2
Trendpear3up = 0.3
Trendpear4up = 0.4
Trendpear5up = 0.5
Trendpear6up = 0.69
Trendpear7up = 7
Trendpear8up = 8.9
Trendpear9up = 90
Total Score:
The positive score (posScoreTrendpear) is the sum of the weights from all conditions that are satisfied.
A negative counterpart (negScoreTrendpear) exists similarly for when the trend indicates a downward bias.
Trendpear integrates both the level and the direction of change in the correlations, giving a strong numeric indication when the market starts to diverge from its short-term average.
4. Deviation Score
What It Represents: The “Écart” score quantifies how far the asset’s price deviates from the boundaries defined by the regression channels. This metric can indicate if the price is excessively deviating—which might signal an eventual reversion—or confirming a breakout.
How It’s Calculated:
Conditions: For each channel (with at least seven channels contributing to the scoring from the provided code), there are three levels of deviation:
First tier (EcartXup): Checks if the price is below the upper boundary but above a second boundary.
Second tier (EcartXup2): Checks if the price has dropped further, between a lower and a more extreme boundary.
Third tier (EcartXup3): Checks if the price is below the most extreme limit.
Weighting:
Each tier within a channel has a very small weight for the lowest severities (for example, 0.0001 for the first tier, 0.0002 for the second, 0.0003 for the third) with weights increasing with the channel index.
First channel : 0.0001 to 0.0003 (very short term)
Second channel : 0.001 to 0.003 (short term)
Third channel : 0.01 to 0.03 (short mid term)
4th channel : 0.1 to 0.3 ( mid term)
5th channel: 1 to 3 (long mid term)
6th channel : 10 to 30 (long term)
7th channel : 100 to 300 (very long term)
Total Score:
The overall positive score (posScoreEcart) is the sum of all the weights for conditions met among the first, second, and third tiers.
The corresponding negative score (negScoreEcart) is calculated similarly (using conditions when the price is above the channel boundaries), with the weights being the same in magnitude but negative in sign.
This layered scoring method allows the indicator to reflect both minor and major deviations in a gradated and cumulative manner.
Example :
Score + = 321.0001
Score - = -0.111
The asset price is really overextended in long term view, not for mid term & short term expect the in the very short term.
Score + = 0.0033
Score - = -1.11
The asset price is really extended in short term view, not for mid term (even a bit underextended) & long term is neutral
5. Slope Score
What It Represents: The Slope score captures the trend direction and steepness of the regression channels. It reflects whether the regression line (and hence the underlying trend) is sloping upward or downward.
How It’s Calculated:
Conditions:
if the slope has a uptrend = 1
if the slope has a downtrend = -1
Weighting:
First channel : 0.0001 to 0.0003 (very short term)
Second channel : 0.001 to 0.003 (short term)
Third channel : 0.01 to 0.03 (short mid term)
4th channel : 0.1 to 0.3 ( mid term)
5th channel: 1 to 3 (long mid term)
6th channel : 10 to 30 (long term)
7th channel : 100 to 300 (very long term)
The positive slope conditions incrementally add weights from 0.0001 for the smallest positive slopes to 100 for the largest among the seven checks. And negative for the downward slopes.
The positive score (posScoreSlope) is the sum of all the weights from the upward slope conditions that are met.
The negative score (negScoreSlope) sums the negative weights when downward conditions are met.
Example :
Score + = 111
Score - = -0.1111
Trend is up for longterm & down for mid & short term
The slope score therefore emphasizes both the magnitude and the direction of the trend as indicated by the regression channels, with an intentional asymmetry that flags strong downtrends more aggressively.
Summary
For each category—BigPear, Pear, Trendpear, Écart, and Slope—the indicator evaluates a defined set of conditions. Each condition is a binary test (true/false) based on different thresholds or comparisons (for example, comparing the current value to a moving average or a channel boundary). When a condition is true, its assigned weight is added to the cumulative score for that category. These individual scores, both positive and negative, are then displayed in a table, making it easy for the trader to see at a glance where the market stands according to each analytical dimension.
This comprehensive, weighted approach allows the indicator to encapsulate several layers of market information into a single set of scores, aiding in the identification of potential trading opportunities or market reversals.
5. Practical Use and Application
How to Use the Indicator:
Interpreting the Signals:
On your chart, observe the following components:
The individual correlation curves and their average, plotted with visual thresholds;
Visual markers (such as emojis and shape markers) that signal potential oversold or overbought conditions
The summary table that aggregates the scores from each category, offering a quick glance at the market’s state.
Trading Alerts and Decisions: Set your TradingView alerts through the alertcondition functions provided by the indicator. This way, you receive immediate notifications when critical conditions are met, allowing you to react as soon as the market reaches key levels. This tool is especially beneficial for advanced traders who want to combine multiple technical dimensions to optimize entry and exit points with a confluence of signals.
Conclusion and Additional Insights
In summary, this advanced indicator innovatively combines multi-scale Pearson correlation analysis (via multiple linear regressions) with robust regression channel analysis. It offers a deep and nuanced view of market dynamics by delivering clear visual signals and a comprehensive numerical summary through a built-in score table.
Combine this indicator with other tools (e.g., oscillators, moving averages, volume indicators) to enhance overall strategy robustness.
Dynamic Auto RangesBrief Overview:
The "Dynamic Auto Ranges" indicator automatically detects and displays dynamic price range levels around the current market price. This indicator was initially designed and optimized for price movements on Nasdaq, but may also be useful for other instruments with input adjustments. Its purpose is to help traders identify potential support/resistance zones or other key price levels in an adaptive manner. All range lines and their labels are displayed in red for clear visibility.
Key Features:
Automatic Main Range Detection: The indicator intelligently calculates a primary price range block (e.g., 21600-21800) based on the real-time price.
Adjustable Main Range Block Size: Users can select the size of this main range block via settings (e.g., 50, 100, 200, 500 points, etc.), allowing flexibility for various instruments and trading styles.
Automatic Subdivisions: Within the detected dynamic main range, the indicator automatically draws subdivision lines at intervals that are also user-configurable (e.g., every 25 points).
Full Horizontal Lines: All range lines are displayed as full horizontal lines extending to both the left and right sides of the chart (extend.both), providing a clear visualization of levels across history and into the future.
Informative Price Labels: Each subdivision line is accompanied by a clear price label, positioned below the line for easy readability. The label text size has also been adjusted to be larger and more visible (size.small).
Contrasting Red Visuals: Lines and price label text are displayed in red to ensure they stand out on your chart.
Line Style Configuration: Users can customize the line style (Solid, Dashed, Dotted) and the line width for general subdivisions, as well as for the main boundaries of the range block.
Real-time Updates: The range levels and their subdivisions will automatically shift and update as the market price moves into new main range blocks.
How to Use:
Add the "Dynamic Auto Ranges" indicator to your chart (optimized for Nasdaq, but can be tested on other instruments).
Open the indicator's settings (the gear icon next to the indicator name).
Adjust the "Main Range Block Size" to determine how large you want the primary range block to be around the current price.
Set the "Subdivision Step" to determine the interval for the lines within that main range.
Use the displayed lines as a reference for your price action analysis.
Customizable Settings:
Main Range Block Size: Choose the size of the main range block.
Subdivision Step: Set the interval for subdivision lines.
Style: Select the line style (Solid, Dashed, Dotted).
Width: Set the line width for subdivisions.
Main Boundary Width: Set a specific width for the main range block boundary lines.
Note:
This indicator is designed to provide visual guidance based on mathematical calculations of price movements. Like all trading tools, it should be used as part of a comprehensive trading strategy and not as the sole basis for making trading decisions.
Daily Levels & Time MarkersKey Features:
Price Level Tracking:
Previous Day High/Low (PDH/PDL) - Shows yesterday's highest and lowest prices as horizontal lines
Overnight High/Low (ONH/ONL) - Tracks the highest and lowest prices during overnight sessions (4:00 PM to 9:30 AM ET)
Opening Range High/Low (ORH/ORL) - Captures the price range during the first 30 minutes of regular trading (9:30-10:00 AM ET)
Visual Elements:
Draws horizontal lines for previous day levels that extend across the chart
Creates rays (extending lines) for overnight and opening range levels that project forward from when they were established
Uses different colors and line styles for each level type (solid lines for daily levels, dashed for opening range)
Adds text labels showing the exact price values (PDH, PDL, ONH, ONL, ORH, ORL)
Time Markers:
Draws vertical dashed lines at key trading times: 10:00 AM, 11:30 AM, 1:00 PM, 2:30 PM, and 4:00 PM ET
Uses Eastern Time zone by default but allows customization
Customization Options:
Toggle each feature on/off independently
Customize colors for all line types
Adjust timezone settings
Hilbert micro trends SubThe HILBERT MICRO TRENDS indicator uses advanced Digital Signal Processing techniques to uncover hidden characteristics in price series, providing a statistical edge across all types of assets. This indicator specializes in detecting short- and medium-term micro trends, which can appear isolated, embedded within larger trends, or even during broad-ranging price phases.
It operates with a single parameter, simplifying configuration and greatly reducing the risk of overfitting. HILBERT MICRO TRENDS applies modern low-pass and high-pass filtering techniques to smooth price data and remove noise efficiently across multiple levels. The mathematical formulas generate four recursively smoothed series, each more refined than the last in a subtle and precise way, avoiding abrupt changes. These smoothed series outperform traditional moving averages in every aspect: they have less lag (detecting trend shifts faster), generate fewer false signals, and stay closer to price action. This gives them an edge over standard indicators and algorithms based on conventional moving averages such as the simple, exponential, Kalman, or Hull MA.
Visual Structure
The indicator displays in two parts: one on the main chart and one on a sub-chart. On the main chart, the four smoothed series create a shaded area, with the upper and lower bounds representing the maximum and minimum of the series. If a series is rising (positive derivative), it signals bullish momentum; if falling, bearish. Since each series has a different smoothing level, they represent different time perspectives, and the indicator considers all four simultaneously. If all series are bullish, the area turns solid green. If three are bullish and one bearish, it's pale green. Two bullish, two bearish: gray. One bullish and three bearish: pale red. All bearish: solid red. A confirmed micro trend is present only when all four are aligned, i.e., when the area is pure green or red.
The sub-chart displays a histogram version of the same shaded area as an oscillator. An additional smoothed line tracks when the width of this shaded area expands or contracts.
How to Use and Interpret
As stated, the goal is to detect micro trends in price. The first rule is to open long positions only when the area is solid green, and shorts only when it’s solid red. Transitions from pale green to solid green can signal the start of a bullish micro trend, and similarly, from pale red to solid red for bearish trends. The width of the shaded area indicates the strength of the movement (best seen in the histogram). A wider area suggests stronger momentum, which is related to volatility only when a micro trend is active.
Use the orange line in the histogram to determine whether the micro trend is gaining or losing strength. A decreasing width suggests the trend might be ending, signaling an exit opportunity. However, since the orange line lags behind, it’s better used as confirmation rather than a trigger. For quicker signals, changes to pure red or green are more effective.
Price Relationship
Pay attention to the price's relative position to the shaded area. If the price stays within or fluctuates inside the area, it's usually a sign of a ranging market with no clear trend—avoid trading in such conditions. However, if the price breaks out and moves away from the area, it's a strong sign a micro trend has begun. When the price returns to the shaded area, the trend might be ending.
The indicator also marks pivot points from the last pure green or red zone. While not directly used to enter trades, these serve as useful price action reference points for combining with other strategies or tools.
Parameter Settings
The indicator includes a single but crucial parameter that controls smoothing intensity. A low value makes the indicator faster; a higher value slows it down. Success depends on choosing the right setting for the market environment. For long, clear trends, use higher values (80–100), as late entries are acceptable and premature exits are avoided. For shorter, mean-reverting trends, lower values (~40) are better to avoid lag. The default setting is 60, which suits most markets, but users are encouraged to adjust it to current conditions.
Always identify the current market phase and backtest how past micro trends have behaved on the instrument being traded. This ensures the indicator is tuned to the asset’s behavior and can deliver optimal results.
Market Sleep ZonesHey traders 👋
This script shows when the market is in a "sleeping" or low volatility phase. I call it Market Sleep Zones 😴
It looks at the average price movement over a window (default 20 bars), and if the price changes are small (under a % threshold you set), it highlights that area on the chart with a soft green background.
💡 This can help spot moments when the market is quiet — maybe before a breakout or just moving sideways.
It also places labels to mark where these zones start and end, so it's easy to track.
You can change:
The window size (how many bars to look back)
The breath depth (how much price is allowed to move before it’s "not sleeping" anymore)
Not perfect, but helpful if you want to avoid getting chopped in low-volatility zones or want to prepare for when the market "wakes up" 😄
Let me know if you find it useful or have ideas to improve it!
Simple Monthly SeasonalityThis script helps traders quickly visualize how an asset performs month by month over a customizable historical period.
🔍 What it does:
• Calculates average monthly returns over the past N years (default: 15).
• Highlights the current month for quick context.
• Displays results in a clean 2-column table (Month | Avg % Return).
💡 Features:
• Works on any timeframe – internally pulls monthly data.
• Color-coded performance (green for positive, red for negative).
• Dynamic highlights – the current month is softly emphasized.
• Fully customizable lookback period (1–50 years).
📈 Use cases:
• Spot seasonal market trends.
• Time entries/exits based on recurring historical strength/weakness.
• Build the foundation for more advanced seasonality or macro scripts.
Just load it on any chart and see which months historically outshine the rest.
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XAU/USD Custom Levels
XAU/USD Dynamic Support & Resistance Levels
This indicator automatically draws horizontal support and resistance levels for Gold (XAU/USD) based on the current market price, eliminating the need for manual price range adjustments.
**Key Features:**
- **Dynamic Price Range**: Automatically calculates levels above and below the current price using a customizable percentage range (default 5%)
- **Multi-Tier Level System**: Four distinct level types with different visual styling:
- Major Levels (100s) - Blue, thick lines
- Sub Levels (50s) - Red, medium lines
- Sub-Sub Levels (25s) - Yellow, thin lines
- Mini Levels (12.5s) - Gray, dotted lines
- **Fully Customizable**: Adjust range percentage, step size, colors, and line history through input settings
- **Universal Compatibility**: Works at any gold price level - whether $1800, $2500, $3300 or beyond
**How It Works:**
The script centers the level grid around the current closing price and extends lines from a specified number of bars back to the right edge of the chart. The hierarchical level system helps identify key psychological price points and potential support/resistance zones commonly used in gold trading.
**Settings:**
- Price Range %: Control how far above/below current price to draw levels (1-20%)
- Level Step Size: Adjust spacing between levels (1.0-50.0)
- Bars Back: Set how far back in history to start the lines
- Color Customization: Personalize colors for each level type
Perfect for gold traders who need clean, automatically-updating support and resistance levels without manual configuration.
Day Separator with Day LabelsAdjustable day separator that paints vertical lines through the start of day. Default set to GMT however totally customisable.
Has the day of week ladled also which is also optional in position.
there is a check box for a light chart background chart but default is dark background.
Vertical lines are customisable regarding thickness and colour.
Pretty new to it all so welcome feedback and amendment ideas.
NSE/BSE Derivative - Next Expiry Date With HolidaysNSE & BSE Expiry Tracker with Holiday Adjustments
This Pine Script is a TradingView indicator that helps traders monitor upcoming expiry dates for major Indian derivative contracts. It dynamically adjusts these expiry dates based on weekends and holidays, and highlights any expiry that falls on the current day.
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Key Features
1. Tracks Expiry Dates for Major Contracts
The script calculates and displays the next expiry dates for the following instruments:
• NIFTY (weekly expiry every Thursday)
• BANKNIFTY, FINNIFTY, MIDCPNIFTY, NIFTYNXT50 (monthly expiry on the last Thursday of the month)
• SENSEX (weekly expiry every Tuesday)
• BANKEX and SENSEX 50 (monthly expiry on the last Tuesday of the month)
• Stocks in the F&O segment (monthly expiry on the last Thursday)
2. Holiday Awareness
Users can input a list of holiday dates in the format YYYY-MM-DD,YYYY-MM-DD,.... If any calculated expiry falls on one of these holidays or a weekend, the script automatically adjusts the expiry to the previous working day (Monday to Friday).
3. Customization Options
The user can:
• Choose the position of the expiry table on the chart (e.g. top right, bottom left).
• Select the font size for the expiry table.
• Enable or disable the table entirely (if implemented as an input toggle).
4. Visual Expiry Highlighting
If today is an expiry day for any instrument, the script highlights that instrument in the display. This makes it easy to spot significant expiry days, which are often associated with increased volatility and trading volume.
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How It Works
• The script calculates the next expiry for each index using built-in date/time functions.
• For weekly expiries, it finds the next occurrence of the designated weekday.
• For monthly expiries, it finds the last Thursday or Tuesday of the month.
• Each expiry date is passed through a check to adjust for holidays or weekends.
• If today matches the adjusted expiry date, that row is visually emphasized.
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Use Case
This script is ideal for traders who want a quick glance at which instruments are expiring soon — especially those managing options, futures, or expiry-based strategies.
Average RSI (Daily + Weekly)📈 Average RSI (Relative Strength Index) – Beginner’s Guide
What it is:
The Average RSI is a technical indicator that combines multiple RSI values—such as daily and weekly RSI—into a single, smoothed line. This helps traders get a clearer picture of a stock’s momentum over both short- and medium-term timeframes.
Why it matters:
The RSI tells you whether a stock is potentially overbought (priced too high and due for a pullback) or oversold (priced too low and due for a bounce). Traditional RSI uses a scale from 0 to 100, with key levels at 70 (overbought) and 30 (oversold).
By averaging RSI across different timeframes, you reduce noise and get a better signal for trends and reversals.
How traders use it:
✅ Buy zone: When the average RSI dips below 40, it could signal a good entry point.
⚠️ Neutral zone: Between 40 and 60 means the trend isn’t strong—wait for more confirmation.
🚫 Sell zone: Above 60–70 may indicate the asset is overbought or due for a pullback.
Helpful for:
Spotting better entry/exit points
Filtering out false signals
Staying in trend-following trades longer
Bradley Siderograph Correlation: [Blueprint_So9]█ Bradley Siderograph Correlation Indicator
This tool is designed for use within TradingView’s Pine Beta Screener. It enables users to scan their watchlist and identify which assets have shown the highest positive or inverse correlation to a selected window of the Bradley Siderograph.
How to Use:
Go to your TradingView profile and click the Products tab.
Scroll down to Screeners, then click on the Pine option marked as Beta.
Select your preferred watchlist or a custom list you’ve created.
Click “Choose your favorite indicator” and select Bradley Siderograph Correlation Indicator (make sure to favorite it first so it appears in the list).
Once loaded, set:
The timeframe for analysis (e.g., 1D)
The window (number of bars to look back from the current bar)
Use my open-source Bradley Siderograph overlay to identify a recent pivot or turn, then match that window to scan for alignment across your watchlist.
Output:
The screener returns a sortable table displaying each asset in your selected watchlist, with a correlation coefficient ranging from -1 to +1:
+1 = Strong positive correlation
-1 = Strong inverse correlation
0 = No significant correlation
You can sort the column to quickly identify which assets are most aligned—or most divergent—from the Planetary barometer's behavior within your chosen window.
Timeframe Awareness:
Crypto = 24/7 (calendar-based)
Stocks/Forex = Weekday trading sessions (exclude weekends)
This tool enables watchlist-level filtering to identify correlation and inverse correlation between price movement and the Bradley Siderograph over a defined window.
Credits & Acknowledgments:
This is my implementation of Donald Bradley’s Siderograph, as described in Stock Market Prediction: The Planetary Barometer and How to Use It.
Built using planetary data from Astrolib by @BarefootJoey
Melody Markets Moving Average Transitions🎵 Melody Markets Moving Average Transitions – The Ultimate Trend State Indicator 🎵
📌 Indicator Description
Melody Markets Moving Average Transitions is a powerful indicator designed to accurately represent the market trend state by combining the 5 main moving averages (MA7, MA20, MA50, MA100, MA200) and their 120 possible configurations.
Unlike traditional indicators that display moving averages separately, this tool synthesizes these multiple combinations into a dynamic trend line, which can be displayed directly on the selected moving average or via a specially calculated dynamic moving average.
It provides a clear and precise view of trend strength and momentum, helping traders better anticipate price movements.
🔍 Key Features
✅ Comprehensive Trend State → Analyzes up to 120 configurations between 5 moving averages for a detailed trend state.
✅ Dynamic Trend Line → Simple and intuitive visualization of the trend via a single line, shown directly on the chosen MA or the dynamic MA.
✅ Signal Visualization → Displays signals generated by each moving average, facilitating decision-making.
✅ Relevant Pullbacks Display → Highlights meaningful pullbacks according to trend strength and context.
✅ Fully Customizable → Choose moving averages, toggle signals and pullbacks, and customize colors.
✅ Overlay on Price Chart → Smooth and clear integration directly on the price chart.
📖 How to Use Melody Markets Moving Average Transitions?
1️⃣ Select the moving average (MA7, MA20, MA50, MA100, MA200) to track the trend state.
2️⃣ Activate the dynamic trend line to visualize overall market direction in real-time.
3️⃣ Enable signal and pullback displays to catch key trade setups and corrections.
4️⃣ Customize colors and display options to suit your trading style.
5️⃣ Combine with other technical tools for enhanced entry and exit confirmations.
🎯 Who Is This Indicator For?
🔹 Trend Traders & Swing Traders → Get a clear, precise overview of trend strength and pullbacks.
🔹 Day Traders & Scalpers → Quickly identify relevant signals without clutter.
🔹 Beginner to Advanced Traders → Intuitive and comprehensive trend analysis for all levels.
🔥 Conclusion
Melody Markets Moving Average Transitions revolutionizes trend analysis by combining complex moving average configurations into a single, clear dynamic line and signal system. It empowers traders with a deeper understanding of market conditions, improving decision-making and timing.
📌 Add it to your chart now and experience trend analysis like never before! 🚀
Correlation Coefficient📊 Correlation Coefficient (CC)
This indicator measures the statistical correlation between two selected securities over a defined period, scaled from -100 to +100.
It helps you quickly assess whether assets are moving:
Together (positive correlation)
Opposite (negative correlation)
Independently (zero correlation)
🔧 Features:
Select any two symbols (default: NIFTY & BANKNIFTY)
Adjustable length parameter for short-term or long-term correlation analysis
Clean, color-coded plot with horizontal levels to easily identify key correlation zones
📈 Useful For:
Pair trading setups
Hedging strategies
Detecting market regime shifts or intermarket divergences
⚠️ Disclaimer: This is not trading or investment advice.
This indicator is intended for informational purposes only and is not recommended for making
direct trading decisions.
